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Economy

September Consumer Sentiment Posts Huge Gains

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By Jon C. Ogg Published
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The Reuter’s/University of Michigan consumer sentiment index did not just post a gain. The gain was a surge, as September’s sentiment reading managed to pop all the way up to 79.2.

Dow Jones was calling for only a reading of 74.0; Bloomberg had estimates of only 73.5. To show just how much higher this figure was, Bloomberg’s range of all of the economists polled was only 73.0 to 75.0. This was more than five full points above the average and more than four points above the best estimate out there.

Keep in mind that the Reuter’s/University of Michigan consumer sentiment index for the final August reading rose 0.7 points from mid-month to close August at 74.3. This also came in at a cycle high of 79.3 back in May of this year.

JON C. OGG

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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